LONDON (Reuters) – British food delivery company Deliveroo said on Sunday it had raised another $ 180 million from existing investors, including minority shareholder Amazon, in a move that valued the business at more than $ 7 billion.
Deliveroo is set to hold a first public offering in the coming months, which would be the biggest new issue in London for three years.
“This investment will help us continue to innovate, developing new technological tools to support restaurants, providing more jobs to riders and expanding customer choice,” said Willoo, founder and CEO of Deliveroo, said.
The UK competition regulator approved the purchase of Amazon in May 2019 with a 16% stake in Deliveroo, dismissing the objections of local competitors Just Eat Takeaway and Domino’s Pizza.
The internet giant’s interest is not expected to increase as a result of its participation in the last round of fundraising, led by US investors Durable Capital Partners and Fidelity Management & Research.
Deliveroo operates in 12 countries, mostly in Western Europe, but also in Australia, Hong Kong, Singapore and the United Arab Emirates. It did not state how much each investor contributed in the latest round of financing.
The company said it would spend $ 180 million on expanding kitchen sites that deliver only deliveries, grocery deliveries and on-demand services, as well as allowing more restaurants to take orders from their own sites.
Reporting by David Milliken; Edited by Clelia Oziel